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we don’t got an oil problem we got billions upon billions of still undrilled barrels for years to come. In the industry, we call this: “proven but undeveloped reserves”. Pollution might be a problem and it is certainly a relevant problem. But running out of oil and natural gas we definitely are not.
also, you immediately lost a huge amount of credibility of any sort when you mispronounced SPINDLETOP as ‘spindledrop’. Like seriously, that one is not even difficult. In order to truely be creditable as a content creator, you will absolutely want to get your English pronunciations correct, being a first language English speaker and all. Pronunciations of words from foreign languages are, of course, a separate issue. I very much hate when someone who is a fellow English only speaker corrects me on pronunciation of a word from a different language. But English? Come onnnnnnn bro, we are English speakers. Read and narrate the English words correctly!
I stopped watching the video when I heard Spindledrop. I backed it up some and watched and listened again. Say you don’t really know anything about Texas without saying you don’t know anything about Texas.
Texan here that has lived mostly in Houston. I feel compelled to chime in here. This is a vastly oversimplified video that was more appropriate in its assertions and conclusions probably in the 1980s or before. Just in Houston alone, there resides the largest medical center in the world with 20+ hospitals and heavy medical research. Rice is a world class university and the University of Houston is a quickly growing large public university with one of the most diverse student populations in the nation. Houston has a notable space industry (NASA) and is growing with private space companies coming online (Houston Spaceport is a thing now, etc...). There are 2 airports - Bush is a very large airport. Now about the Oil and Gas Sector - we aren't going zero oil anytime soon. We definitely aren't going zero plastics. Countless products use oil base to them. LNG export terminals are being built and that is now a thing helping prop the O&G industry. Carbon capture is becoming a thing which O&G companies are dabbling in. Solar and wind along the coast is becoming a big thing as well and in the small gulf coast Texas town I graduated in - just in the past 5 years a massive solar farm of about 200 acres was put in a couple miles north of town and they are currently bringing online over 70 massive wind turbines like 20 miles up the road. This all mostly speaks to Houston and the gulf coast area. Now, SA has manufacturing as you say along with tourism, Austin is on of the top tech cities in the country, and Dallas is one of the top financial cities in the country. There is also massive amounts of farming and some ranching all over the state's more rural areas. The overall economy in Texas is much more diversified than it is given credit for and frankly with a govt that allows market solutions instead of stifles them like a state like California does, there is certain to be continued growth into the future.
Well, apparently those 'market solutions' don't include taxes... when the reality is that TX, especially the Houston area, currently pays alot more in property taxes than in CA. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-i7eab6adNoM.html.
@@Libertarianmobius1 Avoid Austin! It is a demorat city that is rapidly becoming Texas San Francisco, with hordes of homeless. Dallas-Fort Worth has the problem of inadequate infrastructure that will take major tax increases to upgrade. Houston has the most potential but has the major disadvantage of occasional hurricanes that devastate large areas of the city. Doesn't leave many "easy" areas to start a business in!
I heard that, too. If you’re going to get something that important wrong, then I’m not inclined to believe what you’re saying. Get your facts correct, sir. It’s SpindleTOP! I live in Southeast Texas, which is the location of Spindletop, and most of my family and friends work in the oil industry.
I've lived in the Permian Basin since the 1970's and honestly it seems like the booms aren't as high as they used to be, and the bust aren't as low either. It seems like the industry has stabilized a lot.
This boy has not lived in Texas.I have lived in El Paso in midland in San Antonio in grapeville in bay town and trust me each of those regions are very unique and have their own culture. What people think of Texas is Dallas and west Texas. The hip more artist based Texas is San Antonio and Houston and San Francisco light is Austin. This guy has no idea what he’s saying about the state.
Texas, giving the rest of the world something to aspire to since 1836. And y’all are welcome. Now fix the rest of the world so you don’t all have to try to move here.
Don't worry. Someone couldn't pay me to live in Texas. Maybe visit but I have no desire to stay and have not. Also Texas has oil which means easy dirty money, but it also has land. Cheaper land is why people move to a bunch of states. Once they get there they figure out why the land is cheap and try to fix up the state after moving there.
This is an AI written narrative I believe. it's lack of obvious additional facts, details and omission of the multitude industries that utilize that oil. Not one mention of the word 'nat gas' in the entire video. The author implies if not says that the oil and gas industry is on it's last legs. LOL. OMG As a old Texan who grew in the oil patch I just chuckle as to the ignorance of recent generations in the context of oil & gas. The author and many others have absolutely no understanding of modern society need for petroleum products. Modern life itself cannot be maintained without oil and gas. If Texas goes out of the oil business it will be because we have collapsed as a society and are heading back to live in caves. But I got a good chuckle from the video.
Water resources will be the new oil in Texas. Fortunately, solar and wind power have reached the 50% mark of production on recent days. (Republicans privatized our public utilities in 1993) Governor Abbott blamed renewable electricity sources for the power outage in February 2021 (a bold-faced lie - the natural gas system had frozen up, the system was not properly weatherized)
To state that Houston is even 45% dependent on the Oil and Gas industry anymore is totally inaccurate. With the Petrochemical industry along the Houston Ship Channel and all around what is considered the Houston Metropolitan Area that dependence on the Oil and Gas industry for the areas total economic output has dropped significantly. This petrochemical industry produces chemicals used in everything from food preservatives, cosmetics, to plastics. Some are produces from petroleum and some are not. The Largest LNG plant on the Gulf Coast is just south of Houston in Freeport (30miles south of Houston) and the Largest offshore Oil loading platform in the Gulf for oil tankers has just been approved by the Biden Administration for construction off the coast of Freeport. The welding/Fabrication and machining industry in and around Houston that grew in response to the needs of the petrochemical plants and the oil and gas industry is second to none in the nation and produces items that are often produced and shipped all over the nation. In short, the economy of the Houston area is no longer dependent on the rise and fall of oil and gas prices as it once was. Yes, those rises and falls still have an effect on the local economy, but those effects are no longer catastrophic or devastating as they once often were.
if you think oil is going anywhere your absolutely insane. cars, yeah, they are on a long-term decline. but that's because of consumer mileage pressures. oil isn't just used for gasoline tho. its in literally everything around you. from the keyboard your typing this on. to the shoes you walk in. to the mattress you sleep on. to the phone you carry. to the syringe you got your vaccine with. to the fertilizer that makes the very calories you eat. oil is a miracle ordained on humanity by god and god alone. its uses are innumerable. and its value is limitless.
It is because they put the Tab for Public Schools and their MULTI-MILLION DOLLAR FOOTBALL Stadiums for other people's kiddies, on the Ad Valor-em Real Estate Tax. Look at your Tax Card, the biggest part by FAR is the SCHOOLS. They also Tax Non-Real Estate personal property owned by BUSINESSES. After the Post Covid Land Rush and the Biden-Inflation the Central Appraisal Districts in Texas have BLOWN UP the Value Estimate of Taxable Real Estate. You watch what I tell you, they will NOT LOWER these Estimates when the Correction comes, and it will come. In other words, the Real Estate Taxes are a victim of INFLATION. I am a 6th Generation Texan, I am sick of this place. We have LOST everything meaningful about this state. Affordable Meaningful Land, Public roads we came drive on without paying a Toll, our CRIME is through the roof, worst of all we have lost our CULTURE. Our School are being ruined, but so much of that comes from the Federal Government. But at least the kiddies learn how to play Football and be Cheerleaders, what a great occupation that is. It is bad enough to have to pay for SCHOOLS when you do NOT have children, but paying for $200,000 per year Football Coaches, and the Stadiums, and the buses to haul them around is sickening.
I do have to tell you though then I agree with you the taxes are too high. And it's damn hot! Texas really isn't that great I'm just being honest. So if you're thinking of moving here from California, don't.
There is a LOT of tings wrong with Texas. I was born in Texas in 1951. My Ancestors were all, 100% Texas pioneers. Most of them came to Texas in 1850, one man, came in 1890. I have loathed the place so much of my life. It has been a backward place to be most all of my life. But at least we had affordable land. The Federal Government has done a LOT to ruin the place just like they have California and some other places. Once the states start taking money from the Federal Government, the RUIN begins. After the money comes CONTROL. It is like owing a Loan Shark. This crazy GROWTH is totally ruining the place, the building of houses and streets just so they can build more houses and streets, the SUBURBS. God do I hate them.
It doesn't help that Abbott and the other damned republicans have ruined this state because of their backward thinking about certain things. Texas had a really good governor with Ann Ruchards, but then the Bush trash came here from Connecticut and we've had nothing but trashy republicans in office ever since. If what I've said pisses some of you, then just maybe you'll think twice before voting for anymore republicans. 😊😊😊😊😊😊😊😊
Funny because San Antonio is the only major city in the US that gets its water from an underground aquifer that is so pure it only needs slight chlorination as required by law.
@@justanamerican9024 You first claim Texas has no water, which shows a breathtaking ignorance on your part, to now crying it's not without chemicals! The aquifer is quite pure.
Terrance Crawford shut the whole state of Texas down by whooping up on Errol Spence and got the Charlo twin spooked to look his way....and he from Nebraska of all places
The guy who did that may make 1 stupid move too many and end up taking down the company-that would give other EV makers a chance to take more market share.
I’m in Texas now… and it’s wonderful. Luckily it’s lightly raining our entire trip so the weather is much cooler than normal I hear for this time of year but there’s nothing like California. California dry weather and variety of landscapes is such a treat
California's population isn't declining. It's still growing but slower than it was. The people that are leaving are going to Texas more than any other state.
Californian population is only growing thanks to all hte illegals flowing across the border. And those illegals unlike middle class US taxpayers aint going to contribute anything into the economy .,
@@YTisGayI'll take it. In El Paso, we have had the coolest half a decade I have seen. Lived here my whole life. I don't like trash everywhere, & homeless people in places that were made to otherwise look decent, or pretty. I like the wetlands, the prairies, the lakes, & the mountains. The bay, & the ocean.
California's population has declined so severely, the state LOST representation in the House of Representatives for the first time in history. Far too many of those California refugees have ended up in Texas.
Man you guys,, it's got to be too hot to live there,, I lived in Kansas,,was 110° the scorching wind blew up there from the south , too hot!! The wind never stopped roaring all summer,, was freaking feeling!!!
Texas is largest state of continental US? I mean im no American but even I know the difference between continental and contiguous- and while Texas is the no 1 of Lower 48, Alaska is undoubtedly the largest state of continental US. but its still impressing considering were not even past first 10 sec of the vid.
Yup, there seems to be a huge trend of people confusing "Continental" and "contiguous". I assume they heard contiguous before for the first time when someone was referring to the 48 states, but they forgot the word and didn't know exactly what the word was so they just assumed that they heard continental and that that's the word for 48 states.....🙄 "Continental" - "contiguous" both words start as "conti-" so I think these people just have no idea what continental means, and have never used the word contiguous so they assumed that "conti-" word they heard referring to the 48 states must've been "continental". Americans really need to study geography more. Europeans too. I can understand Americans not remembering every single European country and their exact location.....BUT Americans should know every single US state and where they are.
@isocarboxazid The lower 48 has always been referred to as the "Continental United States." That's mainly because Alaska didn't become a state until 1959. The same year as Hawaii. It's out country and we will describe it how we see fit!
As we “improve” this way, we should build Homeless Parks. Showers and Laundries and effective Security. For you see, not all people can make a $100,000 a year! Anyway, we’ll create huge problems and not address them.
Texas has one of the most diversified economies in the United States. The tax base in Texas is not as diverse. While Texas has no income tax, it has substituted by taxes in the oil and gas sector with disproportionately higher sales and property taxes also being major contributors. Eventually there will have to be a restructuring at the tax system as the world transitions away from oil or the state runs out water to extract fossil fuels.
@@jerryrichardson2799 they literally did mention income tax. It was one of the very first things they mentioned, a SA pre amblem to how Texas taxes work and why it will need changing.
Texas still shouldn't need to add a income tax. Washington state (west coast) has zero income tax, they also have zero taxes on groceries. The price you see is the price you pay for groceries. Groceries are all tax exempt there. Washington state still gets by though, they just raise taxes on things like alcohol & cigarettes & marijuana. Property taxes are a tad bit higher but no where near extremely crazy like California is. Sales tax is a bit higher, however the lower class & middle class is allowed to itemize these taxes and remove them if they choose to do so. The REAL way Washington state makes its tax money is through the "Business & Occupation tax". As well as capital gains tax, since there is no corporate tax there. These get Washington the taxes they need. And luckily, the relatively ease of starting a business in Washington means these taxes do not hurt business or the economy. There is a few other ways they can get some extra tax too, like building "express lane" highways where you pay a $1 or $2 toll and you get to fly by all the slow traffic. Also toll bridges that can get you places a few minutes faster. They are cheap enough that most people use them, and when enough people use them, it makes enough money to take care of the roads.
Houston is also located _less than 5 miles_ from NASA's Johnson Space Center. Because of this, the very first word ever spoken on the Moon was............. "Houston." 🚀🌙🇺🇸
Alaska is the largest state in the continental U.S. Texas is the largest state in the contiguous (touching) Lower 48 states. Remember, if Alaska turned itself into two states, Texas would be the third biggest state.
Texas and Alaska are both on the North American CONTINENT. Alaska has the most land of any state on the North American CONTINENT. Texas has the most land of the 48 CONTIGUOUS states. Glaring mistake at the very beginning of the video thus NOT watching the remainder of the video because I will not know which statements are true or false, which statements to believe or not.
Is texas really growing like the business Oligarchs claim . Many parts are dieing . No control over business or solution. Very poor primary and secondary education . Excellent University level education .
Texas has a very diversified economy. San Antonio, New Braunfels and Austin is rapidly becoming the Texas Silicone Valley. San Antonio has a huge medical and aerospace industry, 4 military bases and Valero is HQ'd here. Houston is the petrochemical home. Dallas-Fort Worth has diversified economy of financial industry and services. As mentioned, Austin is seat of government and has a rapidly growing tech industry. Lived in Texas for over 20 years, Louisiana for the first 17 years of my life. I knew way more people who worked in the oil industry, I've never worked in the oil industry. I absolutely get my business, future statements and information from Vice all of the time! Wtf is this dumb BS, oil isn't going away in the next 50 years at least. Can't make plastic, electronics and manufacturing from green new stupidity.
Texas is 1.8% on fair market value which means property tax keeps rising. California has proposition 13 which caps increases to 2% per year making California property tax way lower than Texas or New York
Texas is the largest state in the Continental United States. The "Lower 48." While Alaska is part of North America, it's not considered part of the Continental United States. Alaska is considerably larger than Texas, of course.
There is actually truth in what the video says. Texas must prepare for the time when oil is not the economic driver it is today - sometime in the next 600 years all will change and we had best be prepared.
There are serious drawbacks to being so dependant on one single industry, but it's really worse than that because Texas is dependent on an industry that depends on limited resources.
@@SomethingDifferentFilms Look at it this way. Texans will always have petroleum. The 17 states that Texas provides for are the ones dependent on limited resources.
@@CHMichael Saudi Arabia is Gilded. What you see is what their literal King wants you to see. Most of Saudi Arabia is extremely poor. Only a handful of people actually benefit from Saudi Oil.
Peak oil/gas won't happen for decades. 85% of people have never taken a flight & 6+ billion people have negligible per capita energy use. We haven't even gotten to peak coal yet. This video will not age well, as the sector is starting a decade+ secular bull market. Offshore production is heating up again (see most recent GOM auction) and Permian production is back above ATHs. By the time the bull market is over, Texas will then be diversified enough to withstand the downturn.
@@jbasket444 They aren't the ones likely to suffer the worst of the pollution related problems. Some but not all. Refineries can cause cancer and poison ground water or air for some people and have for years-but there is a geographical limit to that. Not so much for planetwide pollution.
We provided the US with TI-89 calculators. lol. Dell and Texas Instruments ain’t going anywhere. Neither is AT&T American Airlines Oracle now Tesla Oracle etc. oil will eventually fade
Admittedly, nuclear energy is wonderful - until something goes wrong. Plus, the newest nuclear plant - with over-runs - cost $35-billion to supply electricity to one-million homes. That means a cost of... $35,000 PER HOUSEHOLD before they charge you for one tiny bit of electricity.
Texas has federal government problem. We just need to get out of Texas way. Texas contains several of the largest oil and gas fields that have ever been discovered anywhere in the world. Has second largest oil field on the planet and fifth largest oil field Texan shale oil and gas fields are all perhaps the most strategically well located of all the major petroleum reserves on the planet Texas has highest amount of wind power generated by any U.S state and if Texas were an independent country it would rank fifth in the entire world by wind power generation in addition of fifth in natural gas and fourth in oil and then to just keep adding on to Texas's energy advantages you can further measure the state by solar energy potential where once again it contains some of the best solar potential land in the entire country Texas is therefore the world's greatest energy super region because it contains many of the largest and the most productive oil and gas fields on the planet one of the largest Refinery capabilities on the planet some of the windiest and sunniest locations on the planet a strategic position in the center of North America granting it the ability to easily export many of those resources across the continent and a long coastline free of major Maritime choke points to export those resources around the world from
Aint nothing mild about 12 inches of snow when you dont see that in more than 5 years combined ever in over 40years of n Texas living i have never before seen a temp lower than 14 degrees f that time temps were at or below 0 for days 12 inches of snow decimates alot of places even up north at times as far i last knew there is 1 place that provides electricity for every state east of the Mississippi River 1 Texas and 1 for west of the Mississippi minus Texas so I believe a once in a lifetime storm messed us up pretty good once how many times Texas send its folks to help yall who deal with stuff like this every year and still haven't figured it out
@@wrong1029 You can thank wind power for the problem that happened during the worst snow in recorded history. The con artists were built the windmills failed to winterize them, so they froze and Texas lost 20% of it's electrical generation. It's what happens when you allow the global warming SCAMMERS in your house.
Alaska is on the same continent as Texas. You should have said "lower 48" or "contiguous states," instead of "continental United States." Look at a map of North America, and you will find Alaska. This gets you a "thumbs down."
If oil is so good why is the average Texan poorer than the average Americans,. Oil is good for some Texans, some mostly white Texans. I would venture American Oil production was been less beneficial to the average American than other forms of manufacturing and extractive industries.
Most Americans are white. So obviously it makes sense that when sub grouping the highest income recipients, they will also be reflective of the largest demographic. They also have a much larger Latino percentage than other states. Stop being a racist.
Tubes like this shows well how low amricans must be in knowlege. I jas nothing new from the last 30 years, which i didnt know already before the internet some 3.000 miles away. Its ignored Texas has the fastet growing problems as well and there are no fast fix. You move old problems there and a lot.
@azjeep Texas has 2 for education. Looking at the emirates and Sweden Texas should be able to raise much more money. Alaska has one too. Venezuela doesn't. People like you scare me.
The oil business isn't going anywhere. It will be the main source for energy for the next 100 years. We can't go electric. There isn't enough raw materials to do that. So this information will eventually hit the public and back to building up the oil business we go.
Well, you're right about electric not saving us, but you're comically wrong about the status of the world's proven oil reserves. It's not going to be 100 years for two reasons. First, there's only 50 years left in proven reserves, and that's at current consumption. And that brings me to second point. In the 20th century, it was mostly a billion or so who lived in first world nations using most of the oil. By the mid 21st century, it's going to be all 9 billion people competing for whatever last few drops remain. Sure, we might get some more mileage on the shale we have, which costs more than twice as much, but the economy will crater on high gas prices before that unless we increase freight and passenger rail by about 10 fold.
@@VulcanLogic I've done a lot of studying on oil. We don't have any idea for sure how much oil is in the earth. Some think we've tapped into about 2% of what's down there. Truth is until we drill a well and see what's down there we don't know. We do know where we have drilled yet, and we'll get to those places eventually. On another level , oil is a carbon based fuel. C is on the periodic table of the elements. This means we'll never run out of Carbon. We can burn oil, boil it, evaporate it, but it will always come back together again, it will reconstitute itself. So we'll run out of oil about the same time we run out of rain. In nature oil is formed by pressure. There is so much pressure down in the earth oil can be made in a few hours. The earth will never run out of oil. If all the elements of the earth melted, we'd run out of oil. However we wouldn't care about oil under those conditions. The most expensive part of oil is the political fighting and wars.
There may be plenty of oil, but it won't really matter as the world steadily transitions to a post carbon future. The younger generation has different values and priorities for a future that is environmentally uncertain. What happens from now going forward will determine to what degree we want to rely on fossil fuels in the future.
@@richardcogbill6791 I think there's a reality going on here. People can want an oil free world and may even demand it. The results will be no cars or at least 15% remaining. See we don't have enough copper, nickel, zinc, and many other metals needed to go electric. So how is food going to get places? How will farmers grow crops? There is no replacement for oil. Green shit doesn't cut it and it isn't even available. The Green is going to collapse and everyone will go back to oil or horses. You think oil sucks, try using one third of the farm land to grow horse feed for transportation to exist.
The important thing is what percentage of oil is profitable to recover. There has been advances in this area, but now the stuff that is getting pumped out of the ground is only about 10% oil rest being water, excepting places such as the Saudi oil fields, with any lower currently not profitable enough to bother.
The State of Texas did not "bring us" NASA. The "N" stands for national. The only reason it's in Texas is the latitude. Rocket launches closer to the equator get more speed from the spin of the Earth so they use less fuel used to get to orbit.
The Johnson Space Center was never going to be a launch site. Its location is due more to the Vice President at the time it was established than anything else. It could have been anywhere on the coast with cheap land that barges could deliver rocket-sized equipment to.
NASA's Johnson Space Center was the command center. HOUSTON we have a problem... No launches. But our engineers saved Apollo astronauts. And Nasa contractors in Texas like my nephew built and developed parts for the space shuttles.
@@kathleenkirchoff9223 Yes, I was one of the NASA contractors myself, worked on the Approach and Landing Tests, then wrote requirements for flight software and tested it. Did a few other things in between, including manning a console in the MCC for the first two launches.
Don't California my Texas. Two of my neighbors that directly adjoin my property moved from California to Texas. Both of them love to hunt, fish, and are especially thankful for the lower taxes. They wanted out if California because it's the antithesis of each thing that I listed above. Not to mention that they hated the soaring crime rate.
This video was clearly very poorly researched. I find it hilarious how you bash Houston and the state as a whole for the reliance on the oil and gas industry, while giving praise to Austin for tech, Dallas for finance, and San Antonio for manufacturing. Well guess what, all of these industries rely on Oil and Gas to function. The four pillars of society are steel, ammonia, plastic, and concrete. These four pillars are impossible to produce at a large scale without oil and gas. Just so you know. Please pick up a copy of How the World Really Works by Vaclav Smil.
@@garyjackson3531 😅😂. I do all the time, but your 3 word comment is about the worst way possible to inspire anyone to go and learn something. Go learn your own self!!
Yes they destroyed a friend's family ranch and hunting lease with those wind gens that failed epicly in the big freeze when out of state ERCOT control caused the problems. They cut a super highway through forest and range displacing wildlife to put up the wind gens. The noise disrupts wildlife and the blades kill endangered birds. They take barrels of oil for lubrication and the blades cannot be recycled when they break. Green energy is a farce because it damages the environment.
you do that Texas isnt the only state that was an independent country right? examples are : Hawaii, and California and having lived in Texas for over 40+ years, the smaller cities and larger ones arent all that similar.
California was never an independent country. It had a brief period (weeks) before it was included in the Union. It was never a truly independant country for almost a decade like Texas and Hawaii were.
Not thinking about moving there. Had offers to work In Longview and Waco when I worked for Fleetwood as they had factories there. Had many friends there as a result of transfers around country.
TX is one of the last places I’d want to live in the US. I’ve been to Dallas & Austin for conferences & had a nice time. I live in a home worth about $500k that we purchased 20 years ago for about $200k. Property tax is $2,500 annually. It would be closer to $10k in TX. Taxes in TX are great for the wealthy, but pretty bad for everyone else.
Alaska is Continental it's just got Canada in between. Continental from Oxford Languages adjective 1.forming or belonging to a continent. "continental Antarctica Alaska and the lower 40 are all part of the North American continent🤦♀️
